Many taxpayers conducting 1031 exchanges want to know what information they need to provide to their CPA or tax accountant when reporting a 1031 exchange transaction. In this article, we will outline four essential documents to provide your CPA when reporting your 1031 exchange.
Information to Provide Your CPA
Every 1031 exchange situation is different, so you should talk to your CPA or tax accountant about your specific situation to see what documents they will need. That being said, typically they will want to see the following documents in order to complete the IRS Form 8824:
Relinquished Property Closing Statement and may want to review the signed 1031 Exchange Agreement and Relinquished Property Assignment Agreement
Replacement Property Identification Form (if any)
Replacement Property Closing Statement and may want to review the Replacement Property Assignment Agreement
Close-out Letter from the Qualified Intermediary
Your qualified intermediary can provide scanned PDF copies of any documents related to your 1031 exchange that your CPA or tax accountant may need.
Contact a Qualified Intermediary
If you need any assistance with your 1031 exchange, look no further than CPEC1031, LLC. Our qualified intermediaries have been facilitating exchanges of all shapes and sizes for more than two decades. We have the knowledge and experience needed to ensure your exchange is a success. Reach out to us today to learn more about the full extent of our services and see how we can help with your next 1031 exchange of real estate.
Start Your 1031 Exchange: If you have questions about 1031 exchanges, feel free to call me at 612-643-1031.
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